Jazeera Airways Group (Kuwait City) saw its first quarter net profit surge by nearly 42 percent to 2.1 million Kuwaiti Dinar ($7.46 million).
Read the full report from Gulfnews.com: CLICK HERE
In other news, the airline will temporarily operate from the Al Martoum International Airport at the Dubai World Central (DWC) from May 1 while the runway work occurs at nearby Dubai International Airport (DXB).
Copyright Photo: Paul Denton/AirlinersGallery.com. Airbus A320-214 9K-CAF (msn 3349) arrives at Dubai International Airport (DXB).
Jazeera Airways (Kuwait City) reversed course and posted a $7.15 million net profit in the second half of 2010.
In 2009, the young airline was forced to terminate its new hub at Dubai. Jazeera changed its business plan by concentrating on its Kuwait City hub. In the first half of 2010, this new plan proved unprofitable as the Kuwait hub suffered from overcapacity. However the company has now been able to produce a profit with this plan.
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Copyright Photo: Gerd Beilfuss. Please click on the photo for additional information.